Car Insurance in Memphis

Memphis premiums are $344 higher than the state average, which is why the city is recognized for its expensive premiums. Going over some tips below about how to save on Memphis car insurance can save you some hard-earned money.

  • City Average: $1,659
  • State Average: $1,315
  • National Average: $1,427

Memphis Car Insurance by Accident or Violation History

Do you know how much an accident or violation history can cost you in terms of car insurance rates? A DUI will increase your car insurance premiums more than other driving violations. In general, a DUI in Memphis will cost you 48% more in car insurance premiums versus the city average ($1,659). Reckless driving will also push your rates up, with typical rates of $2,377, which are 43% higher than the city average. No one plans on being in an accident, but life happens, so be aware of what one can do to your rates. For those in Memphis with at-fault accidents, $623 is, on average, the additional cost for car insurance over the city average.

  • DUI: $2,457
  • Reckless Driving: $2,377
  • At-fault Accident (damages less than $1000): $2,282
  • At-fault Accident (damages greater than $2000): $2,282
  • Speeding Ticket (16-20 mph over speed limit): $1,974

Memphis Car Insurance by Age

At $1,431, drivers in their 50s have the smallest car insurance rates among any age group. Those in their 60s ($1,458) aren’t paying much more. When drivers hit their 20s in Memphis, therefore moving out of the teenage age range, they pay 68% less in premiums, the largest gap between any age group. The first time drivers can expect their age to trigger an increase in car insurance premiums is when they turn 60. Teenage drivers have the biggest premiums of any age group. They have car insurance payments that average $7,267.

  • Teenagers: $7,267
  • 20s: $2,308
  • 30s: $1,628
  • 40s: $1,506
  • 50s: $1,431
  • 60s: $1,458
  • 70s: $1,783

Memphis Car Insurance by Credit Rating

Individuals with Very Poor credit (300-579) typically pay 2.4x more every year on premiums than those with Exceptional credit (800-850). The greatest benefit of better credit comes from upgrading from Very Poor (300-579) to Fair (580-669), by which drivers can save approximately $455 per year.

  • Very Poor: $3,446
  • Fair: $2,758
  • Good: $2,210
  • Very Good: $1,755
  • Exceptional: $1,419

Memphis Car Insurance by Gender and Marital Status

In Memphis, several driver attributes, including gender and marital status, can play a part in car insurance premiums. Rates for those who are widowed are slightly cheaper than rates for those who are single. Being single, as opposed to married, can cost you 6% more per year. Premiums for men are generally a mere 1% more costly than for women.

  • Female: $1,642
  • Male: $1,659
  • Single: $1,659
  • Married: $1,562
  • Divorced: $1,659
  • Widowed: $1,637

What drives up car insurance rates in Memphis?

Where you live in Memphis affects your car insurance rates. Besides your driving history and credit score, where you live is one of the biggest contributing factors to the car insurance rates you'll pay. The reason? Crime, theft and uninsured motorists vary by zip code. So if you find yourself in a neighborhood that doesn’t play well with others, car insurance companies may consider you a high risk to insure, meaning: your rates could be higher than those of a pal who lives just around the block. And, unfortunately Memphis is no exception to the rule. From zip code 38018 to 38116, premiums rise by 19 percent—that’s $263.

Expensive Memphis Zip Codes: 38105, 38107, 38106, 38126, 38116

Cheap Memphis Zip Codes: 38018, 38137, 38138, 38135, 38133

Memphis Driving Conditions

Inclement weather goes hand in hand with wet brakes, slick roads & decreased visibility.

And that's not the worst of it. Each year there are more than 700,000 weather-related car accidents. In Memphis, you can expect 108 rainy days with an annual rainfall of 53.7 inches. Memphis is also known to experience thunderstorms and tornadoes. You can check on the condition of the roads anytime here.

108

Rainy Days a Year

54"

Avg. Annual Rainfall

4"

Avg. Annual Snowfall

Be Prepared For

Driving in Memphis

Major Highways
I-40 I-55 I-240
Toll Roads
U.S. 36 Express Lane
Popular Day Trips
Meeman-Shelby Forest Holly Springs Ghost River

Find Local Memphis Agents

Lipscomb & Pitts Insurance

2670 Union Avenue Ext , Suite 200 Memphis, TN 38112

Smith-Berclair Insurance

855 Ridge Lake Blvd Memphis, TN 38120

Farris Evans Ins.Agency

1568 Union Avenue Memphis, TN 38104

The Carter Agency

12 N MCLEAN BLVD MEMPHIS, TN 38104

Boshwit Brothers Mortgage Corp.

2595 Broad Avenue Memphis, TN 38112

Boyle Insurance Agency, Inc.

5900 Poplar Ave. Memphis, TN 38119

Fred L. Davis Insurance Agency

1374 Airways Blvd Memphis, TN 38114

See All

Not sure about Memphis

Check out these other Tennessee cities...

Nashville

$1,498

The average Memphian's annual cost of coverage

40%

Our customer's average savings after comparing insurance

240

That's equal to 240 cups of coffee or $599 in savings

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Memphis Car Insurance

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